Verizon Q4 loss widens; revenue higher

RobertDaniel

TEL AVIV (MarketWatch) -- Verizon Communications Inc.,
VZ, +1.08%
the New York telecom-services major, reported a wider fourth-quarter net loss, reflecting special items tied to pensions, debt retirement and other matters. The loss attributable to the company was $4.23 billion, or $1.48 a share, compared with $2.02 billion, or 71 cents, in the year-earlier quarter. Adjusted earnings were 38 cents a share against 52 cents. The number reflects a 7-cent impact from Hurricane Sandy. Revenue rose 5.7% to $30.05 billion from $28.44 billion. A survey of analysts by FactSet produced consensus estimates of profit of 50 cents a share on revenue of $29.82 million.

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